David Fuller's view I only introduced these stops on Monday and did not notice the first gold sale as I was completing copy yesterday evening. Here are the results. On Tuesday, I was stopped out of a February gold position at $1127.55 against my purchase at $1128.8 on 9th December. (Note: I had thought this stop was fractionally in the money, but IG Index base their stops on the bid, rather than 'price to me' basis, unlike City Index.) Feeling that gold reached its reaction lows last month, I reopened the position this afternoon but in an April contract this time, paying $1124.3. I was also stopped out of an April gold long at $1125 earlier today, against my purchase at $1120.3 on 4th January. I reopened this position at $1122.5 this afternoon. These prices include spread-bet dealing costs.

Yesterday's downward dynamic in gold indicates that we may see some further choppy action during this consolidation, which is often the norm following corrections, rather than a quick rally back to the highs. If so, I will remain reasonably relaxed about this provided that the December low near $1075 is not taken out. Meanwhile, the most bullish short-term development would be an upward dynamic to offset yesterday's selling.